Here's Why HealthEquity (HQY) is a Strong Momentum Stock
For new and old investors, taking full advantage of the stock market and investing with confidence are common goals.
While you may have an investing style you rely on, finding great stocks is made easier with the Zacks Style Scores. These are complementary indicators that rate stocks based on value, growth, and/or momentum characteristics.
Is This 1 Momentum Stock a Screaming Buy Right Now?
Momentum investors, who live by the saying "the trend is your friend," are most interested in taking advantage of upward or downward trends in a stock's price or earnings outlook. Utilizing one-week price change and the monthly percentage change in earnings estimates, among other factors, the Momentum Style Score can help determine favorable times to buy high-momentum stocks.
HealthEquity (HQY)
Draper, UT-headquartered HealthEquity provides integrated solutions for health-care account management, health reimbursement arrangement and flexible spending accounts for health plans, insurance companies and third-party administrators in the United States.
HQY boasts a Momentum Style Score of B and VGM Score of B, and holds a Zacks Rank #3 (Hold) rating. Shares of HealthEquity has seen some interesting price action recently; the stock is up 0.4% over the past one week and up 0.2% over the past four weeks. And in the last one-year period, HQY has gained 45.9%. As for the stock's trading volume, 483,101.09 shares on average were traded over the last 20 days.
A company's earnings performance is important for momentum investors as well. For fiscal 2024, four analysts revised their earnings estimate higher in the last 60 days for HQY, while the Zacks Consensus Estimate has increased $0.03 to $2.18 per share. HQY also boasts an average earnings surprise of 16.5%.
Investors should take the time to consider HQY for their portfolios due to its solid Zacks Ranks, notable earnings metrics, and impressive Momentum and VGM Style Scores.
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HealthEquity, Inc. (HQY) : Free Stock Analysis Report
